So what would make a useful Key Performance Indicator in your business? Some apply to almost all businesses, such as various financial ratios. But in deciding others that would be useful to your particular business, there are a number of things to consider. To be worhtwhile monitoring, the KPI should have these characteristics:
* Reflect the goals of your business
* Be critical to the success of your business
* Be measurable
* Point to the activities you might need to alter if things start to go off track
Stay tuned to future posts as we will be discussing each characteristic in further detail as well as sharing some examples. For more information about establishing your own Key Performance Indicators, please contact Simons Bitzer at (317) 782-3070 or visit us on the web at www.SimonsBitzer.com. We're passionate about your success!
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